High Point Enterprise Newspaper Archives May 16 1974, Page 7

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High Point Enterprise (Newspaper) - May 16, 1974, High Point, North Carolina Erroneous economic ideas exist by John Conniff a business analyst new York a there Are certain automatic phrases and assumptions about which the citizenry should be especially wary and critical lest they fill their Heads with misconceptions and disillusionment. This has Long been so. For two decades americans referred to a the balance of payments and took Pride in the nations trading accomplishments mindless of the fact that it really was an imbalance and the country was bleeding. Incredibly you can still be served with the advice that stocks Are a hedge against inflation although it is either a Lucky or a Brilliant investor who could demonstrate that Contention during the past five years. There Are lots More misconceptions. For Many months you had the Banks encouraging people to Chase after daily compounding suggesting that there was a big advantage Over quarterly compounding when in fact it was a matter of pennies. These Are harmless however when compared to that automatic response that comes from government officials about a the fight against what fight what Battle you ask the response comes Back automatically a the freeze the controls the promises the dedication. But then you look at the government red Ink and you question whether rhetoric and appearance constitute the real Effort. While extolling the Virtues of the balanced budget the present administration will by the end of the present fiscal year have exceeded its revenues by about $68 billion. And another deficit is anticipated for 1975. Almost any economist will readily agree that spending in excess of revenues especially to such a degree is a fundamental and probably the strongest contrib Tant to inflation. Another phrase repeated so often that it is Seldom questioned anymore is this the prime rate is the interest rate commercial Banks charge their most creditworthy corporate customers. It is now la per cent a record High. But is it effectively la per cent or might it even be More yes it could. A lot of very Good customers pay considerably More than la per cent even though their credit rating is As worthy As any in the land. In addition to paying a fractional percentage Over the prime rate they Are also asked to leave 20 per cent of the loan on Deposit. That might bring the rate to an effective 14 per cent although that in turn is reduced by the interest earned on the Deposit. But the effective rate is influenced upward by another possibility a that the loan might be amortized or paid Back in instalments Over a period of time. That has the effect of making an la per cent rate come out to More than 20 per cent in simple interest. More disillusionment is probably spread by so called Cost of living adjustments than any other misconception. In most cases those adjustments Are made on last years inflation rate a not on the higher prices to come. Staten Island n.y., was med by the dutch settlers ter the states general the Irli Ament of the find Cut of Owoc. A Lar condition your fee amp Liaise its value it the tame time number i air conditioning maker conditioner with the shape that spells value Call us for details Purcell Supply co. Phone Jimmu �?725 w. Creen or. Done to be misled Eckerl s policy is to guarantee you Low everyday description prices in Foci Eckerd s was Lirse to bring discount prescriptions to the Southeast. And has consistently done so for 75 years. The reasons Why Eckerd s fills Over 8,000,000 prescriptions a year Ore Price Quality service and Quality Outing. Store hours daily 9 00-9 30 sunday 1-9 a of a fug Stogos creators of reasonable drug prices now at Eckerd a bord Erless silk color prints a move forger picture oreo Thon Standord prints a Hove better More professional looking results. A Are More suitable for framing now you can begin to receive your 126 foil film processing As the new silk bord Erless prints you la love the professional look and larger picture ar0o> % 2 pm. 5 ounce Crest folding Lawn chair #740 \ no Tottis com win 1 rising pm a drops Eye drops College Village shopping Center reusable ice substitute 2112 Westchester drive Southgate shopping Center save now thru tuesday 5-21-74 \ ice Pak 12� colder than ice ice Pak itchy Kool for fast Relief from Poison Ivy a Poison Oak or minor skin irritation. 4 ounce lotion 50 x w Nylon Garden Hose Desene powder for athletes foot 1.5 of. Directors chair folding chair i1488 listeria i >8 Nch w the legs Antiseptic charcoal Grill kills germs 14 of. C or d size eve ready batteries 714 Inch Black amp Decker circular dristan 24 tablets vaseline intensive care Bath beads Gillette super stainless Blades % saws a 2 batteries for $1799 45 quart jumbo size Roll Bounty towels 2/77 tampax Box of 40 12 ounce liquid maalox thermos Chest with one gallon Jug combo $1088 11 of oar Basol shave Cream 2/qqt Rud House amp Garden Spray excedrin bottle of too Mac jul i too plus 30 tablets raw my too one a Day plus Iron $197 \ vaseline into Hwat Cali c it Sitek stain Ehn w. 5 Blades 30 quart a # to a a i a a a. A ii j la v a a a Vav re in foam ice Chest 97 Flea Collar a Killa flame own a a and cats a Alda in tick control o Citee live up to i months beverage Holder for car Horn boat Patio it ads a to Ukini Tea Moo head a shoulders shampoo your Choice 7 of. Tube 5 of. Jar 11 of. Lotion 27 head amp by shoulders wizard solid air freshener ii Elisi Schick flex Matic Shaver with carrying Case Model 400 insecticide Standard modal 49. Oral appliance $1088 insecticide deodorant can care 77 you la be sure antiperspirant 14 ounce size 47 ventilated Auto seat Cushion Tyia-4

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